Articles
Manhattan’s rent premiums remain well above all other New York City boroughs, ranging from 20% in small properties to 30% percent in large buildings.
Working Seniors on the Rise: A Renter Segment to Watch
Though a clear majority of senior householders in apartments do not work, delayed retirement has become a rising trend. Since the financial crisis, this trend has created a growing demand segment for small apartment building owners.
Tenants with Special Needs: A Growing Segment of Small Property Renters
Small properties, while historically low in attracting renters with disabilities, are becoming more sought after for their affordability.
What Factors Impact Where Seniors Rent?
Our research illustrates that senior rental location preferences are strongly segmented along both age subgroups and by housing costs. Metro market size also plays a large role.
How Does Location Impact the Value of Older Apartment Properties?
While rents in prewar buildings can compete with newer stock overall, this story varies considerably across metro areas.
How Does Building Age Impact Multifamily Rents?
When it comes to apartments, general wisdom says that the newer the building, the higher the rent. This holds true until you reach the ‘prewar’ vintage, which can approach new inventory rent rates for smaller properties.
Senior Renters Represent a Growing, Diverse Segment in Small Apartment Properties
Seniors are not a monolithic renter group, but rather have varying needs from early retirement to skilled care services. Small property operators will have to prepare for this generational demand as more seniors are choosing to rent.